Cost of workers' compensation insurance in Louisiana drops
BATON ROUGE - Insurance Commissioner Jim Donelon says the cost of workers' compensation policies for Louisiana businesses has dropped for a fourth straight year.
The state insurance department announced this week that it had approved a 9.8 percent statewide decrease in workers' compensation rates, to take effect May 1. The rate cut was requested by the National Council on Compensation Insurance, an organization that files workers' comp rates in 35 states.
Donelon called the price drop a boost to businesses, which will pay less for the insurance coverage. He says the rates have fallen by 34 percent over the last decade.
The insurance commissioner credited the cost decrease to strong competition from insurance companies carrying workers' compensation policies and fewer claims from workers.
Workers' compensation insurance provides coverage for workplace-related injuries and illnesses.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Dozens attend vigil at LSU after three students died separately
Residents get progress report on Diversion Canal as work continues
Mother leads widening project on Highway 42, honoring late daughter
Alabama boy becomes huge LSU fan, invited to meet Coach O at...
Driver ticketed after crashing into utility pole overnight, knocking out power along...
Southern Center Jaylon Brinson excited to play in front of home town
Fans' Choice Award Winner 2019: Week 1- Isaiah Jones
Coach O Postgame after Lsu defeats Texas 45-38
Hunter Register leads Southern's offense despite loss to McNeese
Taylor Bannister's journey to becoming a LSU Volleyball Superstar